Bill Gates Becomes World’s Richest Person; Surpasses Amazon CEO Jeff Bezos

Bill Gates

Bill Gates

Gates, the co-founder of Microsoft, has a net worth of $110 billion, which topped Bezos' total worth of $109 billion, according to the index. MacKenzie is due to keep 25 per cent of the couple's Amazon stock (a 4 per cent stake in the company) worth roughly US$35.7b, according to a securities filing in April.

According to CNN, Gates regained the lead on Friday after Microsoft stock went up almost 48 per cent this year, helping boost the value of his stake in the tech giant. Also, the company's cloud division AWS (Amazon Web Services) lost an important $10 billion Pentagon project to Microsoft.

The decision to award the contract to Microsoft represents a huge loss for Amazon in the ongoing battle between two of the world's largest tech firms.

He briefly overtook Bezos last month after Amazon had shared its first profit drop in nearly two years, but he should hold the position for longer this time around.

Amazon's stock is down 2 percent, according to Bloomberg.

Bezos' wealth was also impacted by his divorce settlement with his former wife MacKenzie.

Bezos would be far richer if he and MacKenzie Bezos hadn't divorced. Bezos was second on the list after topping it in 2018 with a net worth of $160 Bn.

In a letter, she wrote: 'I have a disproportionate amount of money to share. It will take time and effort and care.

Gates' has a similar philanthropic spirit and has given $35 billion to the Bill & Melinda Gates Foundation since 1994.

Gates recently shared his thoughts on the wealth tax that's been proposed by some Democratic presidential candidates, including Elizabeth Warren, saying he's already paid more than US$10 billion in taxes.

"I'm sure that eventually it would be in everyone's best interests if someone that's as community-oriented as him gets involved in the Seattle situation", New England Patriots owner Robert Kraft said in the Post piece. But "when you say I should pay US$100 billion, then I'm starting to do a little math about what I have left over".